To that point we began to look at larger properties in the 50-150 unit range.

There isn't nearly enough information on the calculator to give me a real indication of what is actually included in your numbers...but if you're planning for $35k profit...can you also afford to lose $15k...without experience it's possible to have your holding costs be much higher...and your renovation costs be 50% over if its your first project and you don't have actual contractor bids and are just guessing based on having read J Scott's book.

I get my *** kicked by this industry, but it's still very profitable.

How do I find an accountant that won't eat all of our profits?

To be honest with you people do not mind lend relatives money for medical tuition bills and will not want to get into lending practice unless there is a profit sharing scheme.

In my area of the country, if you can give more value for money than an absentee landlord mailing it in or a faceless management company rapaciously intent on maximizing their profit per unit, you're never going to go broke with rentals in the $700-$1100 range, good economy, bad economy, whatever.

I know several larger orgs that I invest with who will only work with Accredited investors via 506(c) but I've also invested on a few smaller projects that accepted Sophisticated investors, or non-accredited, via 506(b). 

If you decide to ask a lawyer about these make sure you find one that understands them properly because if you do - it will be very profitable for her.

@Dennis Weber ,In my experience, the way tax liens are set up-yes they do appear to be sold off in "bundles" to larger investment institutions; tax deeds, (in Hamilton County where I live) are sold individually. 

I know for my area, there aren't any multi-family properties so we decided to go with the larger single family house.